Forrest City Arkansas Income Charts

This section shows the Forrest City Arkansas economy using the most recent economic analysis from the 2021 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Forrest City depicts it has a Median earnings of $29,444 which is the smallest when sorted by median earnings per worker of all the other places in the local area. The city with the highest median earnings per worker in the area is Madison which shows a median earnings of $47,500 (61.3% larger). Comparing median earnings per worker to the United States average of $50,459, Forrest City is approximately half the size. Also, benchmarked against the state of Arkansas, median earnings per worker of $41,104, Forrest City is approximately three-fourths the size.

In Figure 2 a more complete view of income is shown which aggregates income from all members in the household and it has a Median household income of $33,062 which is in the center range of other places in the metro area. The city with the highest median household income in the area is Caldwell which depicts a median income of $37,386 (13.1% larger). Comparing median household income to the United States average of $64,994, Forrest City is approximately half the size. Also, compared to the state of Arkansas, median household income of $49,475, Forrest City is approximately three-fourths the size.

The next section examines a variety of different income statistics for the Forrest City metropolitan area. In Figure 3 we see that it has the percentage of earnings less than $10,000 in the mid range of other places in the surrounding region at 8.4% of the total.

Figure 5 has the Average number of hours worked in a typical work week during the year, it has a Avg Hours Worked of 38.5 which is the third most average hours of all other places in the greater Forrest City region. The city with the highest average hours in the area is Caldwell which shows an average hours of 42.9 (11.4% larger). Dividing median annual worker earnings by the average number of hours worked in a year in Figure 6 shows that it has a Avg Hrly Earnings of $14.71 which is the second smallest when sorted by average hourly earnings of all the other places in the area. The city with the highest average hourly earnings in the area is Madison which depicts an average hourly earnings of $24.96 (69.7% larger). Comparing average hourly earnings to the United States average of $25.01, Forrest City is approximately half the size. Also, in comparison with the state of Arkansas, average hourly earnings of $20.01, Forrest City is approximately three-fourths the size.

Figure 7 examines the number of self employed people in the Forrest City metro area based on the number of people who reported any self employment income. Forrest City depicts it has a Self Employed of 3.3% which is less than most other places in the greater region. The city with the highest percentage of people self employed in the area is Palestine which shows a percentage self employed of 9.3% (approximately 2.8 times bigger).

Turning our attention to Figure 8, the median household income by age group, has the percentage of median income-under 25 years less than most other places in the metro area at $40,757 of the total. Second, it has in the center range of other places in the surrounding region when ranked by median income-25 to 44 years at $24,740 of the total. Third, it has one of the largest proportions of median income-45 to 64 years at $27,399 of the total and is ranked #3. Only #2 Colt ($33,750), and #1 Caldwell ($35,000) are larger.

Figure 9 breaks down the source of income and Forrest City has the smallest proportion of investment and retirement income at 9.4% of the total.

The next chart (Figure 11) shows the percentage of households that had retirement income over the last 12 months and it has a With Retirement Income of 16.2% which is the second smallest in order of households with retirement income of all the other places in the local area. The city with the highest households with retirement income in the area is Haynes which depicts a households with retirement income of 66.0% (approximately 4.1 times bigger).

In the next chart, Figure 12, the median family income is shown for families broken down by racial group and has the percentage of overall family income in the center range of other places in the greater region at $47,981 of the total. Second, it has one of the largest proportions of white family income at $36,058 of the total and is ranked #2. The only larger city being Haynes with $57,500.

Figure 13 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Forrest City shows it has the hightest cost of 98.6 for the cost of healthcare classification.

Forrest City Arkansas Labor Force Charts

The next two charts look at very recent, monthly trended employment related performance using data estimated by economists at the Bureau of Labor Statistics (BLS). The BLS tracks unemployment statistics for a large number of areas throughout the country on a month to month basis. However, not every location in the U.S. is tracked by the BLS so the chart will only show the closest location available (which may be the same location.) Figure 14 shows the monthly unemployment rate for the area as well as a comparison to the overall national economy measure for the United States. Note that in March to April 2020, the Covid 19 recession or great recession occurred and affects this metric. . It indicates that from February 2006 to before the disasterous COVID-19 Pandemic the monthly unemployment rate went from 4.8% to 3.5% in February 2020. This represents a decrease in the monthly unemployment rate of 27.1%. Since that time, the monthly unemployment rate has gone to 3.9% This represents an increase in the monthly unemployment rate of 11.4%. In Figure 15 the monthly labor force participation which are people actively looking for work are also defined as unemployed but do not include people who have given up looking for work. . It shows that from January 2010 to before the Wuhan Coronavirus/COVID Pandemic the monthly labor force participation went from 11,278 to 10,371 in March 2020. This represents a decrease in the monthly labor force participation of 8.0%. Since that time, the monthly labor force participation has gone to 10,317 This represents a decrease in the monthly labor force participation of very little.

The next two charts look at the annual unemployment rate/eligible for unemployment benefits and is based on the American Community survey. Figure 16 shows Forrest City depicts it has a Unemployment Rate of 2.7% which is in the intermediate range of other places in the greater region. The city with the highest unemployment rate in the area is Widener which shows a rate of 15.2% ( appreciably bigger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Forrest City depicts it has a Labor Force Participation of 40.0% which is the smallest as measured by participation rate of all the other places in the surrounding region.

The Components of Employment Status graph in Figure 18 shows the composition of the labor force broken down by employed, unemployed, and not in the labor force (but 16 years of age or older). Forrest City has the largest proportion of unemployed at 60.0% of the total and is ranked #1.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Forrest City depicts full time employees approximately 4.1 times bigger as the part time employees.

The next employment related data item is shown in Figure 21 which is the percentage of families with only a single earner in the greater Forrest City area. Forrest City depicts it has a Single Earner Families of 57.7% which is more than all other places in the greater Forrest City region. The percentage of families with no one working is depicted in Figure 22. Forrest City shows it has a Families with No One Working of 19.2% which is less than most other places in the area. The city with the highest families with no one working in the area is Madison which depicts a families with no worker of 37.5% (about twice as large).

Forrest City Arkansas Poverty Charts

The next section details economy analysis about poverty for residents of the Forrest City community. This performance can be enhanced by government programs such as economic opportunity zone to influence manufacturing, job growth, economic opportunity an hopefully lead to economic recovery after the recent Covid 19 recession. In Figure 23 the total number of people earning less than the poverty level are shown. Forrest City shows it has a Total In Poverty of 3,541 which is the most of all places in the greater Forrest City region.

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Forrest City depicts it has a Percent of Population In Poverty of 33.1% which is the second most percent of people earning less than the poverty level of all the places in the greater Forrest City region. The city with the highest percent of people earning less than the poverty level in the area is Colt which shows a percent of people in poverty of 43.4% (31.1% larger).

In Figure 25 people who are in poverty are broken out by age group. Forrest City has the percentage of person in poverty 55 to 64 years less than most other places in the greater region at 8% of the total.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Forrest City has the largest proportion of black poverty rate at 100% of the total and is ranked #1. Second, it has the largest proportion of asian poverty rate at 100% of the total and is ranked #1. Third, it has the largest proportion of hawaiian poverty rate at 86% of the total and is ranked #1.

Figure 27 shows key poverty statistics for groups based on marriage status. Forrest City has the percentage of married with children and in poverty less than most other places in the greater region at 41% of the total. Second, it has less than most other places in the area in terms of unmarried with children and in poverty at 41% of the total. Third, it has the largest proportion of unmarried female with children and in poverty at 56% of the total and is ranked #1.

The next chart looks at the percentage of people in poverty based on their education level in Figure 28 marriage status. Forrest City has one of the largest proportions of less than highschool in poverty at 40% of the total and is ranked #3. Only #2 Widener (50%), and #1 Colt (65%) are larger. Additionally, Figure 30 looks at the percentage of people who receive some form of public assistance including general assistance, temporary assistance or food stamps (i.e. SNAP.) Forrest City depicts it has a Public Assistance Percent of 30.8% which is the third most households with public assistance of all other places in the greater Forrest City region. The city with the highest households with public assistance in the area is Colt which depicts a households with public assistance of 44.0% (42.9% larger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Forrest City indicates it has a Gini Index of 47.8% which is more than all other places in the local area.

Forrest City Arkansas Work Commute Charts

The following set of charts detail a variety of metrics that have economic impact, economic grow factors and economic development metrics in the Forrest City community and has an impact on other factors such as economic growth, population growth, economic recovery, job growth, etc.. Figure 32 shows a high level view of how the population commutes to work (including the percent of people who work from home.) Forrest City has the largest proportion of people who drive a car or motorcycle to work at 0% of the total and is ranked #1. Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Forrest City or elsewhere.) Forrest City has the largest proportion of people who take the bus at 0% of the total and is ranked #1.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Forrest City has one of the largest proportions of people who leave for work between 12am to 5am at 6% of the total and is ranked #2. The only larger city being Widener with 20%. Second, it has the smallest proportion of people who leave for work between 6am to 630am at 7% of the total. Third, it has the largest proportion of people who leave for work between 11am to 12noon at 13% of the total and is ranked #1. Also, it has the largest proportion of people who leave for work between 12noon to 4pm at 9% of the total and is ranked #1.

The next graph in Figure 36 shows the average number of minutes that it takes for people to commute to work. Forrest City has one of the largest proportions of people with commute time of less than 5 minutesutes at 30% of the total and is ranked #2. The only larger city being Caldwell with 33%. Second, it has one of the largest proportions of people with commute time between 5 to 9 minutes at 28% of the total and is ranked #3. Only #2 Caldwell (29%), and #1 Haynes (39%) are larger. Third, it has the second smallest in terms of people with commute time of less than 5 minutes of all the other places in the greater region when sorted by people with commute time between 10 to 14 minutes at 13% of the total. Also, it has the smallest proportion of people with commute time between 40 to 44 minutes at 5% of the total.

The average commute time is shown in Figure 37. Forrest City depicts it has a Avg Commute Time of 15 which is the smallest when ranked by average commute time of all the other places in the metro area. Figure 38 shows the difference between male versus female commuting time. Forrest City depicts average commute time in minutes for men 44.0% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Forrest City has the percentage of no vehicle available in the mid range of other places in the greater region at 33% of the total. Second, it has the smallest proportion of 1 vehicle available at 26% of the total. Third, it has one of the largest proportions of 2 vehicles available at 24% of the total and is ranked #2. The only larger city being Madison with 28%. Also, it has the largest proportion of 4 vehicles available at 6% of the total and is ranked #1. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Forrest City depicts it has a Work in city or place where live of 70% which is ranked #1 of all places in the greater Forrest City region. Comparing people who both work and live in the same city to the United States average of 43%, Forrest City is 63.9% larger. Also, in comparison with the state of Arkansas, people who both work and live in the same city of 51%, Forrest City is 38.1% larger.

Forrest City Arkansas Jobs Charts

The next to charts break out the median earnings for major job categories for men and women. Figure 46 shows the median earnings of men for the job categories. Forrest City depicts it has the hightest median earnings of $117,500 for the earnings-education, legal, community service, arts, media occupations aggregate. Similarly, Figure 47 shows the median earnings of women for the job categories and Forrest City depicts it has the hightest median earnings of $48,750 for the management, business, and financial occupations aggregate. The table in Figure 48, shows Forrest City employment data in terms of job categories and salary data.

Forrest City Arkansas Self Employment Charts

Figure 49 shows economic activity in terms of the number of people who are self employed in incorporated local business by industry. Forrest City depicts it has the hightest entrepreneurs of 64% for the self employed management, business, science, and arts businesses classification.

Similar to the last chart is Figure 50 which shows the number of people who are self employed but in more detailed industry categories such as manufacturing, retail sales, residential real estate, commercial real estate, health care, exports/imports, and advanced industries, etc. Forrest City shows it has the hightest entrepreneurs of 39% for the self employed in educational services, health care and social assistance grouping.

In Figure 51 the average annual self employment/entrepreneur income is shown. Forrest City shows it has a Self Employment Income of $57,143 which is the largest of all places in the greater region. Comparing average annual self employment income to the United States average of $40,101, Forrest City is 42.5% larger. Also, versus the state of Arkansas, average annual self employment income of $36,313, Forrest City is 57.4% larger.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Forrest City depicts total number of self-employed men 37.5% larger as the total number of self-employed women.